Notable Put Options Activity in Canadian Pacific Railway - Canadian Pacific Kansas (NYSE:CP)

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Shares of Canadian Pacific Railway (NYSE: CP) are higher on the session by 0.98%, currently trading at $72.81. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the June 2012 $75.00 put, which has traded 1,800 times on open interest of 8,021 contracts. Put volume is outpacing call volume by 36 to 1. Canadian Pacific Railway Limited has 14,800-mile network extends from the Port Metro Vancouver on Canada's Pacific Coast to the Port of Montreal in eastern Canada, and to the United industrial centers of Chicago; Detroit, Michigan; Newark, New Jersey; Philadelphia; New York City and Buffalo, New York; Kansas City, Missouri, and Minneapolis, Minnesota.

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